Real estate investor, Erineo “Eddie” Carranza, who hopes to collectively work with Larry Dominick and the Town of Cicero in providing a world-class, multi-disciplinary cultural venue and community gathering place in the near west suburb. In addition to providing a diverse range of quality entertainment to people from all backgrounds and ages, the Theater’s mission includes an emphasis on educational and outreach activities in partnership with community groups. The Theater’s multiple rehearsal and performing spaces also offers classic facilities to the artistic community, presenters and audiences throughout the area.

After several years of neglect by the previous owners and operators, the new owner of the theater gathered a team of developers and successful operators of venues such as the Olympic Theater and developed a comprehensive vision, known as the Cicero Renew Initiative. The plan includes efforts for revitalization of the historic building, which will include among many things, a cultural center, fitness club and featuring classic cinema movies throughout the week for the community senior citizens. “The Olympic Theater and Cultural Center will play a key role in the economic and cultural development of the Cicero / Berwyn area with other developers following to invest in the area as well”, says Mr. Carranza. In 2015 Carranza purchased building which includes space to accommodate a new cultural center. The building has been undergoing legal battles as well as complications involving construction and the completion of a sprinkler system, which is required by the Town of Cicero. Currently the building and its development is managed by the Mr. Carranza, with funding support from the sale of his other properties in recent years.